HC Wainwright Reiterates Buy Rating for NRx Pharmaceuticals (NASDAQ:NRXP)

NRx Pharmaceuticals (NASDAQ:NRXP)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $40.00 target price on the stock.

A number of other equities analysts also recently weighed in on the stock. Ascendiant Capital Markets upped their price target on shares of NRx Pharmaceuticals from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen raised NRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NRx Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research upgraded NRx Pharmaceuticals to a “hold” rating in a report on Wednesday, September 10th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $34.00 target price on shares of NRx Pharmaceuticals in a research note on Tuesday, December 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.50.

NRx Pharmaceuticals Stock Performance

NRXP stock opened at $1.98 on Tuesday. The firm has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.87. NRx Pharmaceuticals has a 52 week low of $1.17 and a 52 week high of $6.01. The stock has a market cap of $55.64 million, a P/E ratio of -0.84 and a beta of 1.91.

NRx Pharmaceuticals (NASDAQ:NRXP) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $6.83 million. Sell-side analysts predict that NRx Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Trading of NRx Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of NRXP. Ethos Financial Group LLC acquired a new position in NRx Pharmaceuticals in the 3rd quarter valued at $39,000. One Wealth Management Investment & Advisory Services LLC boosted its holdings in NRx Pharmaceuticals by 86.1% during the third quarter. One Wealth Management Investment & Advisory Services LLC now owns 27,991 shares of the company’s stock valued at $92,000 after acquiring an additional 12,950 shares during the period. Two Sigma Investments LP boosted its holdings in NRx Pharmaceuticals by 66.4% during the third quarter. Two Sigma Investments LP now owns 52,332 shares of the company’s stock valued at $173,000 after acquiring an additional 20,880 shares during the period. Geode Capital Management LLC grew its position in shares of NRx Pharmaceuticals by 27.9% in the second quarter. Geode Capital Management LLC now owns 172,255 shares of the company’s stock valued at $562,000 after purchasing an additional 37,598 shares during the last quarter. Finally, AdvisorShares Investments LLC increased its stake in shares of NRx Pharmaceuticals by 29.7% in the third quarter. AdvisorShares Investments LLC now owns 342,136 shares of the company’s stock worth $1,129,000 after purchasing an additional 78,339 shares during the period. 4.27% of the stock is currently owned by institutional investors and hedge funds.

NRx Pharmaceuticals Company Profile

NRx Pharmaceuticals, Inc, a clinical-stage bio-pharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders, including suicidal depression, post-traumatic stress disorder, and chronic pain. Its products include NRX-101 (D-cycloserine/Lurasidone), an oral, fixed dosed combination of D-cycloserine and lurasidone that earned food and drug administration-designated breakthrough therapy for suicidal treatment-resistant bipolar depression; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of severe bipolar depression with acute suicidal ideation and behavior.